Comment on Whatever happened to the blockchain/smart contract 'revolution' we were told about?
hisao@ani.social 1 week agoCrypto currency isn’t backed by a nation’s GDP
Stablecoins? USDT is the most traded crypto globally since 2019.
Comment on Whatever happened to the blockchain/smart contract 'revolution' we were told about?
hisao@ani.social 1 week agoCrypto currency isn’t backed by a nation’s GDP
Stablecoins? USDT is the most traded crypto globally since 2019.
Canconda@lemmy.ca 1 week ago
Well the value of the USD is based on the bond market which is essentially based on USA’s GDP.
I’m not saying stable coins don’t exist. I’m explaining the fundamental valuation difference between crypto and national currencies.
Also traded /= transacted. In the context of OPs question, the existance of stable coins has not pushed the needle on crypto from a trading asset to liquid transactable colloqueal currency.